Two men jailed in the UK’s first criminal trial involving land banking fraud in the City of London Police investigation
A £3 million was proven to be gathered from 300 investors the pair cheated, evidence was pointing the two as culprits. Their strategies were to fool their victims like elderly and those who are vulnerable into buying plots of land that were either worthless or massively over-priced.
Found guilty of five counts of money laundering, the two men (42 and 32 years old) were sentenced to seven and six years at Isle worth Crown Court.
Their claim was that the locations of the supposed to be valuable plots were marketed as being in a prime position for development and would quickly increase in value. But the truth of the fact is that investors were putting their money into plots located on farmland, in the Green Belt, within an Area of Outstanding Natural Beauty or on the sides of hills, with no chance of gaining planning permission let alone building houses.
The two were just funneling off the funds into a network of bank accounts while the investors received small returns while others lost everything. In a matter of two years they manage to con 300 victims, one of which is an elderly man who was suffering from terminal cancer losing almost £300,000 and a woman fooled by as much as £373,000. In order for people to buy their sc...

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Scams that are perpetrated through in house financing are almost limitless. Having a house is not just a luxury but it is a necessity. Buying a house is not just an investment but having a place you can call home. This is a place where you can create memories and a place where you could go home to after a long day, a place where you can be with the family. A place where you can be stress-free so buying should also be stress-free. Nowadays it is hard to have one of your own added the trouble of being scammed by people who will do anything just to steal money to others. Here are some tips to avoid house financing frauds:
Brokers will always find a way for you to extend payment terms. Pay attention to the actual price and interest rate. We often take more importance to the monthly rate rather than the actual price, remember it is always better to pay in shorter term; the longer you pay the higher the cost will be. If ask, “what sort of payment you are looking for?”, he just wants to get an idea of how willing you are to pay so that he can tweak the loan to fit the payment by extending it.
Know your credit score, the scenario often goes like this. A scam will let you believe that it is bad, he will tell you that he is not sure and he will talk to the manager and let you know. And of course a few moments later he will go back and congratulate you because the manager granted and wishes to ...